Butene-1 Market Size is Estimated to USD 9.65 Billion By 2032

Market Overview: The global butene-1 market had a valuation of USD 5.34 billion in 2022 and is projected to reach USD 9.65 billion by 2032, with a revenue compound annual growth rate (CAGR) of 6.8% during the forecast period. The primary driver of this growth is the increasing demand for butene-1 in various industries, including polymers, textiles, and chemicals.

The construction sector is also a significant contributor to the demand for butene-1, as it is widely used in the production of building materials such as insulation, pipes, and flooring. The construction industry's increasing need for high-performance flooring materials is expected to further boost market growth. Moreover, butene-1 is essential for the production of synthetic fibers, which are in high demand in the textile industry.

Get a sample copy of the Butene-1 Market report: https://www.reportsanddata.com/download-free-sample/6967

The growing awareness of the environmental impact of chemicals has led to a desire for green and sustainable alternatives. Butene-1 is seen as such an alternative and is expected to witness increased demand in sectors like pharmaceuticals and personal care products, contributing to market growth.

However, fluctuations in raw material prices and stringent government regulations on chemical production and use are potential factors that could hinder market revenue growth. Additionally, competition from substitute chemicals like ethylene and propylene may pose challenges to market growth.

Government Regulations: Various regulatory bodies worldwide oversee the production and use of butene-1:

  • In the United States, the Environmental Protection Agency (EPA) regulates emissions from facilities producing butene-1 through its Risk Management Program (RMP). Facilities are required to develop and implement plans to reduce potential risks associated with butene-1 production.
  • The European Union has adopted a Directive on Fluorinated Greenhouse Gases (F-Gases), which includes limits on emissions of greenhouse gases, including butene-1. This directive restricts the use of certain chemicals like butene-1.
  • The International Maritime Organization (IMO) has established regulations limiting the use of butene-1 and other volatile organic compounds (VOCs) in ships operating internationally. Ship operators are required to reduce emissions of VOCs, including butene-1, by 50% by 2020.
  • In the United States, the Occupational Safety and Health Administration (OSHA) regulates workplace exposure to hazardous chemicals, including butene-1, with permissible exposure limits.
  • In Europe, the REACH regulation requires companies producing or importing substances classified as carcinogenic, mutagenic, or toxic for reproduction (CMR) to register and submit information about these substances. Butene-1 is classified as a CMR substance and must be registered with REACH.

Key Insights: Product Categories: The butene-1 market is divided into two primary product categories: Polymer Grade and Chemical Grade.

  • Polymer Grade butene-1 is used as a co-monomer in the production of polyethylene, commonly employed in the packaging industry. It's also used in the manufacturing of various types of polyethylene like LLDPE, HDPE, and LDPE, with applications across consumer goods, construction, and automotive sectors.
  • Chemical Grade butene-1 serves as a raw material for producing various chemicals, including butadiene, butylene oxide, and Methyl Ethyl Ketone (MEK), with applications in construction, automotive, and pharmaceutical industries.

During the forecast period, the Polymer Grade segment is expected to exhibit the fastest revenue CAGR due to increased demand for polyethylene in the packaging industry and the growing need for eco-friendly packaging materials.

On the other hand, the Chemical Grade segment is expected to experience steady growth, primarily driven by the demand for various chemicals in industries such as automotive, construction, and pharmaceuticals.

Applications: The butene-1 market is segmented by application into Polyethylene, Polypropylene, Butadiene, and Others.

  • Polyethylene is the dominant segment in terms of revenue, driven by its extensive use in packaging, construction, and automotive industries. The packaging industry, in particular, relies on polyethylene for items like plastic bags, films, and bottles.
  • The Polypropylene segment is projected to have the fastest revenue CAGR during the forecast period, fueled by its demand in the automotive sector for lightweight and fuel-efficient vehicles. Polypropylene is also used in food containers and packaging materials.
  • The Butadiene segment is expected to maintain consistent revenue growth due to its essential role in synthetic rubber production, widely used in the automotive industry for making tires, belts, and hoses.
  • The Others category, which includes applications like lubricants, antioxidants, and surfactants, is anticipated to experience modest revenue growth, mainly driven by the increasing demand for lubricants in the automotive and industrial sectors.

Regional Outlook: Geographically, the Asia Pacific region led the butene-1 market in 2022, primarily due to the rising demand for polybutene and polyethylene in developing countries like China and India, where the middle class is expanding. The construction and manufacturing sectors' growth in this region further contributes to market expansion.

North America is expected to witness consistent revenue growth during the forecast period, driven by increased demand for butene-1 in sectors such as packaging, construction, and transportation. The use of lightweight materials is also boosting demand.

The European market is projected to grow moderately, primarily due to demand from the construction sector and the increasing need for eco-friendly packaging.

Competitive Landscape: The butene-1 market is characterized by the dominance of a few major players, including INEOS Group Limited, Sabic, Evonik Industries AG, Royal Dutch Shell plc, ExxonMobil Corporation, LyondellBasell Industries N.V., BASF SE, Solvay, Mitsubishi Chemical Corporation, and Braskem.

Strategic Developments: Leading companies in the butene-1 market are employing strategies such as mergers and acquisitions, strategic agreements, and contracts to enhance their market position and expand their product offerings.

New Product Launches: Key players continuously launch new products to meet the growing demand for high-value chemicals. For example, INEOS Group Limited introduced INEOS Butene1 H100, a high-purity grade of butene-1 designed for high-performance plastics and specialty chemicals production.

Segments Covered in the Report: The report offers historical data and forecasts for revenue growth at global, regional, and country levels. It provides analysis of market trends in segments and sub-segments. The market segments covered include Product Type Outlook (Polymer Grade and Chemical Grade), Application Outlook (Polyethylene, Polypropylene, Butadiene, Others), and Regional Outlook (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Explore Trending Reports:

Stearic Acid Market-https://www.reportsanddata.com/report-detail/stearic-acid-market

Printed Textile Market-https://www.reportsanddata.com/report-detail/printed-textile-market

Sprinkler Irrigation Systems Market-https://www.reportsanddata.com/report-detail/sprinkler-irrigation-systems-market

Compound Houttuynia Market-https://www.reportsanddata.com/report-detail/compound-houttuynia-market

Water Desalination Equipment Market-https://www.reportsanddata.com/report-detail/water-desalination-equipment-market

Industrial Films Market-https://www.reportsanddata.com/report-detail/industrial-films-market

Request a customization of the report: https://www.reportsanddata.com/request-customization-form/6967

Thank you for reading our report. To know more about the customization or any query about the report contents, please connect with us and our team will ensure the report is tailored to meet your requirements.

About Reports and Data    

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behaviour shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

Contact Us:

John W

(Head of Business Development)

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: sales@reportsanddata.com

Blogs | Press Release | Industry News | Our competencies

Browse More Upcoming Reports @ https://www.reportsanddata.com/upcoming-reports

Browse More Latest Reports @ https://www.reportsanddata.com/report

Browse Latest Blogs: https://www.reportsanddata.com/blogs

Browse Latest Press Release: https://www.reportsanddata.com/press-release

Comments

Post a Comment

Popular posts from this blog

Logistics Automation Market Size Worth USD 211.38 Billion 2032 | CAGR of 14%

The global logistics automation market size was USD 64 Billion in 2022 and is expected to reach USD 211.38 Billion in 2032, and register a rapid revenue CAGR of 14 % during the forecast period. Rapid expansion in the e-commerce business and technological breakthroughs, such as Internet of Things (IoT), Artificial Intelligence (AI), and robotics are major factors driving market revenue growth. In the contemporary corporate environment, requirement for effective and timely delivery of goods has increased. Businesses are seeking for ways to optimize their logistics operations to boost production and cut expenses. Logistics automation aids businesses in achieving these objectives, by automating various processes, including order processing, inventory management, and transportation management. Get a sample copy of the Logistics Automation Market report, visit: https://www.reportsanddata.com/sample-enquiry-form/1600 Further key findings from the report suggest Based on end-u...
Read more

Industrial Tubes Market Size Worth USD 1,406.92 Billion By 2032

  Market Overview The global market for industrial tubes had a value of USD 550 billion in 2022 and is projected to reach USD 1,406.92 billion by 2032, with a rapid compound annual growth rate (CAGR) of 11% during the forecast period. The growth of the market is driven by increasing demand for industrial tubes across various end-use sectors such as oil & gas, construction, and automotive. Manufacturers are focusing on developing new and innovative products to meet the rising demand for environmentally-friendly and energy-efficient industrial tubes. One of the prominent end-use markets for industrial tubes is the oil & gas sector. The demand for pipelines due to the increasing demand for oil & gas leads to a higher price for industrial tubes. The construction industry is another major consumer of industrial tubes, driven by the growing construction activities, particularly in emerging economies, for applications such as HVAC systems, water supply systems, and sewage...
Read more

Bitumen Membranes Market to Exceed Valuation of USD 3.74 Billion by 2027

According to a recent report by Reports and Data, the global bitumen membranes market is projected to reach USD 3.74 billion by 2027, with a compound annual growth rate (CAGR) of 4.8%. Bitumen membranes are designed to provide waterproofing and coverage for industrial and residential buildings. These membranes consist of highly viscous, elastic, and waterproof organic liquids. They are commonly used as roofing systems to prevent leaks and facilitate water drainage on nearly flat or level roofs. Bitumen membranes have various applications, including humidification, waterproofing, binding, rust-proofing, joint filling, and crack formation. The demand for these products is expected to steadily rise in road expansion, infrastructure rebuilding, and the construction of buildings and bridges. The growing demand from the building sector, driven by environmental regulations and the affordability of roofing systems, has contributed to the increased production of polymer-modified bitumen (PMB)....
Read more